Briefly Business: Banking exposure of equity MFs soars to 20.1%

Banking exposure of equity MFs soars to 20.1%

Mumbai: According to latest data available with Sebi, mutual fund industry's investment in bank stocks stood at Rs 42,022 crore at November-end — 20.59 per cent of the industry's total equity assets under management of Rs 2.04 lakh crore.

FDI in services sector up 5% in April-Oct

New Delhi: India's foreign direct investment (FDI) inflows into the services sector increased by a mere 5 per cent to $3.6 billion during the April-October period of this fiscal, according to the latest data of industry ministry.

Air India ferries 50,000 passengers in a day

Mumbai: Air India flew a record 50,000 passengers last Friday on its national and international routes, sources said. While 35,246 passengers flew on the carrier's domestic flights, 15,519 flew on the international network.

Federal Bank ups deposit rates by 0.5%

mumbai: Kerala-based Federal Bank has raised its interest rate offering on select deposit buckets by up to 0.50 per cent. The bank will now pay 9 per cent per annum for a deposit of over one year, but under 3 years maturity.

50 bps rate cut likely in Jan-Mar: Citigroup

new delhi: The RBI is likely to lower key interest rates by 0.75 per cent next year with a strong possibility of a 0.50 per cent cut during the January-March quarter itself, according to Citigroup.

Job generation down by 21%, says chamber

Mumbai: New job creation between January- December 15 this year fell by over 21 per cent to 5.3 lakh jobs in the country, according to report by Assocham.

Jewellery exports down 3.7% in Nov

NEW DELHI: India's gems and jewellery outward shipments reported a 3.7 per cent drop at $2.78 billion in November, according to Gems and Jewellery Export Promotion Council.

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